Comments not directly related to oil or natural gas should be posted in this thread. Thanks.
Comments for oil and natural gas should be posted here.
Oil output (crude plus condensate or C+C) is likely to peak by 2020 (or may have peaked already in 2015 or 2016). Electric Vehicles (EVs) and Plugin hybrid electric vehicles (PHEVs) may allow about 40% of current oil consumption to be substituted with electricity, under the simplifying assumption that the use of oil based fuels in PHEVs is minimal due to high oil prices. It is assumed here that high oil prices are the likely result of the decline in oil output. I have modified my medium oil scenario with slightly higher extraction rates, shown in the chart below.
October C+C in Texas was 3151 kb/d and in November it was 3161 kb/d, using the 3 month vintage estimate.
The data from Dean Fantazzini can be found at link below, please credit him if this data is used.
Non-petroleum (not related to oil or natural gas output) comments should be posted in this open thread.